India’s top utility vehicles and tractor maker, Mahindra & Mahindra, on Thursday beat expectations with near-doubling in quarterly net profit.

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Mahindra, which aims to enter the US market with a pick up truck and sport utility vehicle early next year, said net profit rose to INR4.18bn (US$87.6m) in the fiscal fourth quarter ended March from INR2.21bn a year ago. That compared with a forecast of INR1.97bn rupees in a Reuters poll.


Net sales rose to INR36.19bn from INR31.42bn and were also above a forecast of INR34.01bn.


See also: Q&A with Dr. Pawan Goenka – president of Mahindra Group’s automotive unit

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